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Can a realtor help you lease or rent a property?

Thursday, July 9, 2015 @ 1:37 PM
Posted By: Joseph Giovinazzo

Sometimes, trying to find a property to lease can be complicated. Though not required, it might be in your best interest to seek the guidance of a realtor when looking for an apartment or rental home or to lease a condo, especially if you're new to leasing or the area.

First time renters will find the expertise of a real estate agent particularly beneficial. When searching for a rental in a major urban centre, great places move quickly. A realtor will have plenty of connections, which may result in leads on new properties hitting the rental market. They will also be able to help you weed out any 'undesirable' units, often sight unseen. After all, they are experts on the neighbourhoods and streets in your target area. 

When it comes to price, a realtor will be able to let you know what is realistic within your budget and line up units that stick within it. After all, there is no point in checking out a beautiful place that you can't afford. In some circumstances, a realtor may be able to negotiate the monthly lease or rental price on your behalf, particularly if the unit if overpriced for the neighbourhood. 

If you do find a place you love within your budget but there is a small issue with it – for example, the carpet is dingy and stained or the walls are in desperate need of a paint job - a realtor can negotiate with the landlord to have to repairs made before you sign the lease. 

When it comes to a rental agreement or leasing legalese and paperwork, the average Joe is often clueless as to what is standard. A realtor can help you fill out the rental agreement paperwork or write the offer to lease if needed. Occasionally, landlords will try to sneak in provisions that are not legal under the Residential Tenancies Act. A realtor will be able to spot these and make any adjustments necessary.

Finally, a renter needn't worry about paying a realtor for help finding a property. In some cases, the landlord will pay a commission for services provided by a real estate agent in a rental scenario.

Category: Real Estate

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